Seadrill Limited
- Open
- 40.12
- Day high
- 40.99
- Day low
- 39.98
- Prev close
- 39.74
- Volume
- 594K
- Mkt cap
- $2.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.9
- P/S
- 1.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$5.4M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
Seadrill Limited (SDRL) is a Energy company listed on NYSE. The stock is up 29% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Seadrill Limited (SDRL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SDRL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | $-0.10 | $-0.11 | -10.0% | $358M | +9.6% |
| Feb 26, 2026 | $0.07 | $-0.16 | -328.6% | $362M | +10.2% |
| Nov 5, 2025 | $0.26 | $-0.17 | -165.4% | $352M | +5.0% |
| Aug 6, 2025 | $0.68 | $-0.68 | -200.0% | $377M | +9.9% |
| Feb 26, 2025 | $-0.34 | $1.07 | +414.7% | $289M | -12.3% |
| Feb 28, 2024 | $0.65 | $0.95 | +46.2% | $434M | +8.0% |
| Nov 27, 2023 | $0.70 | $1.10 | +57.1% | $414M | +4.4% |
| Aug 15, 2023 | $0.40 | $1.16 | +190.0% | $398M | +3.4% |
| May 23, 2023 | $0.55 | $0.83 | +50.9% | $253M | -5.2% |
| Nov 29, 2022 | $-0.11 | $-0.36 | -227.3% | $238M | -14.3% |
| Aug 31, 2022 | $-0.54 | $-0.72 | -33.3% | $269M | +0.5% |
| May 25, 2022 | — | $74.52 | — | $294M | +19.1% |
SDRL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 12, 2026 | Wieggers Marcelofficer: Senior VP, Operations | Sell | 1 | $44.61 |
| Jun 12, 2026 | Sauer-Petersen Torstenofficer: See Remarks | Sell | 42,625 | $44.68 |
| Jun 12, 2026 | Creed Grant Rofficer: Executive Vice President & CFO | Sell | 6,195 | $44.20 |
| Jun 12, 2026 | Creed Grant Rofficer: Executive Vice President & CFO | Sell | 27,952 | $44.92 |
| Jun 12, 2026 | Strickler Todd Dofficer: SVP & General Counsel | Sell | 31,409 | $44.69 |
| Jun 12, 2026 | Wieggers Marcelofficer: Senior VP, Operations | Sell | 13,474 | $44.94 |
| Jun 5, 2026 | Smith Paul Normandirector | Grant | 2,618 | — |
| Jun 5, 2026 | Kjaervik Jandirector | Grant | 2,618 | — |
| Jun 5, 2026 | ROBERTSON JULIE Jdirector | Grant | 3,272 | — |
| Jun 5, 2026 | Zambelli Anadirector | Grant | 2,618 | — |
| Jun 5, 2026 | MCCOLLUM MARK Adirector | Grant | 2,618 | — |
| Jun 5, 2026 | CAHUZAC JEANdirector | Grant | 2,618 | — |
| Jun 5, 2026 | SCHULTZ ANDREW ELIOTdirector | Grant | 2,618 | — |
| Jun 5, 2026 | Swinney Jonathandirector | Grant | 2,618 | — |
| Jun 5, 2026 | Quarls Harrydirector | Grant | 2,618 | — |
Source: SDRL SEC Form 4 filings, latest Jun 12, 2026. For informational purposes only — not investment advice.
See the full SDRL insider & 13F page →Seadrill Limited company profile
Overview
Seadrill Limited (NYSE:SDRL) is a London-headquartered offshore drilling contractor that emerged from Chapter 11 bankruptcy proceedings in 2022. Originally incorporated in 2005, the company provides contract drilling services to oil and gas companies worldwide through its fleet of advanced drilling rigs. Following its successful restructuring and re-listing on the New York Stock Exchange in October 2022, Seadrill has focused on optimizing its operations around what it calls the "Golden Triangle" markets of Brazil, the U.S. Gulf of Mexico, and West Africa, while maintaining a disciplined approach to capital allocation and fleet management.
Business
Seadrill operates in the offshore contract drilling industry, providing specialized drilling services to oil and gas exploration and production companies. The offshore drilling industry serves as a critical link between oil companies that want to extract hydrocarbons from beneath the ocean floor and the complex technology required to reach these reserves. The company operates three main types of drilling rigs, each designed for specific water depths and environmental conditions. Drillships are self-propelled vessels equipped with drilling equipment that can operate in ultra-deep waters exceeding 10,000 feet, making them ideal for frontier exploration and development projects. Semi-submersible rigs are floating platforms that are partially submerged for stability and can operate in both benign and harsh weather environments, with harsh-environment rigs specifically designed to withstand severe conditions like those found in the North Sea. Jack-up rigs are mobile platforms with legs that can be lowered to the seabed in shallow waters, typically used for drilling in water depths up to 400 feet. Seadrill's business is organized into three segments: 1. Harsh Environment operations, primarily focused on the North Sea and other challenging weather locations, representing approximately 15-20% of revenues. 2. Floaters segment, which includes drillships and semi-submersible rigs operating in deepwater and ultra-deepwater locations, accounting for roughly 70-75% of total revenues. 3. Jack-ups segment for shallow-water operations, contributing approximately 10-15% of revenues. As of early 2025, the company operates a fleet of 21 offshore drilling units, including six drillships, four semi-submersible rigs, and eleven jack-up rigs.
Revenue model
Seadrill generates revenue primarily through contract drilling services, where oil and gas companies pay daily rates to lease drilling rigs along with associated crews and equipment. The company's revenue model consists of several components: contract drilling revenues (approximately 75-80% of total revenues), management contract revenues from operating third-party rigs (15-20%), and equipment leasing revenues (5-10%). Daily rates for drilling rigs vary significantly based on rig specifications, water depth capabilities, and market conditions. Ultra-deepwater drillships typically command the highest rates, ranging from $400,000 to $600,000 per day, while jack-up rigs generally earn $100,000 to $300,000 per day. The company's customers include oil super-majors like TotalEnergies and ConocoPhillips, state-owned national oil companies such as Petrobras, and independent exploration and production companies. Several factors influence Seadrill's profitability margins. Positive margin drivers include oil price increases that encourage more drilling activity, tight supply-demand dynamics in the rig market, long-term contracts that provide revenue visibility, and operational efficiency improvements. Negative margin pressures come from oil price volatility that affects customer drilling budgets, oversupply of drilling rigs leading to rate competition, regulatory changes that increase compliance costs, and supply chain inflation affecting operational expenses. The company's margins are also sensitive to rig utilization rates, with economic utilization in the mid-80% range being typical for the industry during balanced market conditions.
Competitive moat
Seadrill's competitive moat is moderate but vulnerable to market cycles and technological changes. The company's primary advantages stem from its fleet of technologically advanced rigs, particularly its sixth and seventh-generation drillships capable of operating in ultra-deepwater environments exceeding 10,000 feet. These sophisticated vessels require substantial capital investments ($500 million to $1 billion each) and specialized expertise to operate, creating barriers to entry for new competitors. The company has built operational expertise and customer relationships in key geographic markets, particularly Brazil where it has established strong ties with Petrobras and other operators. Seadrill's track record includes industry recognition, with rigs like the Sonangol Quenguela winning TotalEnergies' 2024 Rig of the Year award, demonstrating operational excellence that can command premium rates. However, the moat faces significant challenges. The offshore drilling industry is highly cyclical and capital-intensive, with rig supply often exceeding demand during oil price downturns. Competitive threats include approximately 30 competitive drillships becoming available by end of 2025, which could pressure day rates. Additionally, the industry faces long-term disruption risks from the energy transition toward renewable sources, potentially reducing long-term demand for offshore drilling services. The company's ability to maintain its competitive position depends heavily on oil and gas companies' continued investment in offshore exploration and development, making it vulnerable to shifts in energy sector capital allocation priorities.
Risks & safety
Seadrill demonstrates a reasonable margin of safety with solid liquidity but faces typical industry cyclicality risks. **Cash and Debt Position:** - Cash and short-term investments: $404 million (Q1 2025) - Gross principal debt: $625 million - Net debt: approximately $221 million - Current ratio: 2.01x indicating good short-term liquidity - Debt-to-equity ratio: 0.21x showing conservative leverage **Operational Cash Flow:** - Negative free cash flow of $72 million in Q1 2025 due to capital expenditures - Contract backlog of $2.8 billion providing revenue visibility through 2028-2029 - 75% of marketed fleet contracted for 2025 **Valuation Metrics:** - EV/EBITDA: 6.2x (Q1 2025) suggesting reasonable valuation - Price-to-book ratio: 0.53x indicating potential asset value - Trading below tangible book value provides some downside protection **Other Considerations:** - Cyclical industry subject to oil price volatility - Ongoing litigation with Petrobras regarding delay penalties - Capital-intensive business requiring continuous maintenance expenditures
Recent development
Over the past few years, Seadrill has undergone significant strategic transformation following its emergence from Chapter 11 bankruptcy in 2022. The company's most substantial move was the acquisition of Aquadrill in 2022, which added four drillships, one harsh-environment semi-submersible rig, and three tender assist units to its fleet, while also bringing $70 million in annual operational synergies. The company has pursued aggressive capital allocation strategies, returning over $500 million to shareholders through share repurchases, reducing the issued share count by 22% since September 2023. Seadrill divested non-core assets, including the sale of its Qatar jack-up fleet for $400 million in cash proceeds, allowing management to focus resources on higher-return opportunities. Geographic consolidation has been a key strategic theme, with the company concentrating operations in what it calls the "Golden Triangle" of Brazil, the U.S. Gulf of Mexico, and West Africa. This focus has included securing major contracts in Brazil, such as $1.1 billion in firm revenue from contracts for the West Auriga and West Polaris rigs with Petrobras. The company has also consolidated its corporate structure, closing its London office and moving headquarters operations to Houston. Recent operational developments include the delivery of next-generation managed pressure drilling systems to Petrobras and upgrades to power management and dynamic positioning systems on select rigs. The company has maintained strong safety performance, ending 2024 with a total recordable incident frequency rate 20% below the International Association of Drilling Contractors average, while also achieving industry recognition through customer awards for operational excellence.
SDRL company profile · for informational purposes only — not investment advice.
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